Six people were killed in a stabbing at a Chinese kindergarten. What’s behind the country’s recent series of attacks? Also on the schoolyard, war-training boot camps are finding their way into Chinese kindergartens this summer. Florida Gov. Ron DeSantis is vowing to end China’s Most Favored Nation Status, if he gets elected president. China’s leader…
Alibaba CEO Stepping Down, Billionaire Joseph Tsai Named as New Chairman
Chinese e-commerce company Alibaba is replacing Daniel Zhang as chairman and CEO, the tech giant announced on June 20, following a slowdown in sales and mass layoffs. In a news release, the company said that Joseph Tsai, its current executive vice chairman, will step into the role of chairman on Sept. 10, after which Zhang will continue to lead Alibaba…
Former CCP Secretary Pleads Guilty to $28 Million Bribery Charges
Zhou Jiangyong, a former party secretary in China’s communist regime, pleaded guilty in an April 27 court hearing to crimes of collecting nearly 200 million yuan ($28.91 million) in bribes over some 20 years in his official roles. The verdict is set to be announced soon. Sacked in 2021 from his position as secretary of the Hangzhou Municipal Party Committee,…
China Sees Wave of Large Private Companies Broken Up, Listed on Stock Exchanges
April 6, 2023
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Several large Chinese companies have recently been restructured for listing on the stock exchange, with most of them privately owned. Days after Alibaba’s restructuring was announced, Jingdong (JD.com), another Chinese e-commerce platform, announced on March 30 that its sub-companies JD Industrial and JD Production and Development will be spun off and listed on the Hong…
China’s E-Commerce Giant Alibaba to Be Broken Up as Founder Billionaire Jack Ma Returns to China
March 30, 2023
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Chinese e-commerce giant Alibaba announced on March 28 that it will split into six units, as news emerged that its co-founder Chinese billionaire Jack Ma has returned to China per the communist party’s request, after spending more than a year overseas. China observers believe this shows that Beijing’s policy toward privately-owned large Chinese tech companies…
Investors Worldwide Further Reduce Stakes in Chinese Tech Firms, Some Shift Investment to Taiwan
December 26, 2022
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New Analysis Amid a grim outlook of the Chinese economy, particularly its technology sector, foreign investors have been cashing out their gains on Chinese stocks, fearing their values might plummet further. Meanwhile, some investors have turned their attention to Taiwanese tech firms. Berkshire Hathaway, Warren Buffett’s investment firm, has reduced its holdings of BYD, a…
TSMC Surpasses Tencent as Highest Value Company in Asia, as Top Chinese Firms Drop From Global 500 Ranking
December 19, 2022
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Top Chinese companies have tumbled in market cap, with 12 firms dropping out of the 2022 Hurun Global 500, a list of the 500 most-valued, non-state-owned firms in the world. According to the 2022 report released by the Shanghai-based Hurun Research Institute on Dec. 9, the United States leads the world with a total of 260…
HK Billionaires Are Fleeing and Those in China Have Had Their Wealth Slashed by Tens of Billions of Dollars
October 29, 2022
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Following the 20th National Congress of the Communist Party, Chinese stocks immediately witnessed a round of plummeting in value. Together with this deep drop in stock prices is a similar depletion of the wealth of China’s richest. According to statistics, the wealth of China’s richest people was slashed by a staggering US$35 billion in one…
Chinese Tech Giants Tencent and Alibaba Saw Profits Plunge in 2nd Quarter
News Analysis Declining revenues and mass layoffs at Tencent and Alibaba could mark the end of the “golden age” for China’s internet industry. The companies’ profits plunged in the second quarter of 2022, mainly caused by the decoupling of the U.S. and Chinese economies and by the market restrictions imposed by the Chinese Communist Party (CCP)….
SoftBank CEO ‘Remorseful’ After Record $23.4 Billion Quarterly Loss
August 18, 2022
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News Analysis Japanese tech investment giant SoftBank Group has decided to sell one-third of its Alibaba stake to raise $34 billion in cash, following a record $23.4 billion loss in the second quarter. Founder and CEO Masayoshi Son admitted at a press conference that he is “quite embarrassed and remorseful.” Furthermore, China’s regulatory crackdown on…
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